Reuters: Venezuela’s PDVSA plans to issue $3 billion bonds

latam-moneyRussell Dallen, head trader at Caracas Capital Markets in Venezuela, said the new PDVSA issue should be as attractive for investors, as the other two.

“The indications are that they are willing to put it out there cheaply,” he said.

Last week’s issue was “a gift” for buyers, Dallen said.

“Simply put, there is no other place to go in the international credit markets to find a similar credit profile and get those kind of 13 percent yields,” he said.

New York Times: As Others Fled Venezuela, Stanford Saw a Chance

“They had this beautiful new building, and clients of mine would come in and tell us they were transferring their assets to Stanford because they were promised returns of 14 percent,” said Russell M. Dallen Jr., who ran Oppenheimer’s operations in Caracas before going to BBO, a Venezuelan investment bank, where he oversees capital markets activities.